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By admin 2018-08-17

Turkey is a key importer of US cotton. For the first 6 months of 2018, the country imported $563 million worth of US cotton, a little over 10% of all US cotton exports. The US is the top supplier of cotton to the Turkish market, accounting for 30% of all Turkish cotton imports. It is likely that as a result of the recent tension, Turkey shifts at least some of its cotton business away from the US or, they could choose to respond by slapping additional import duties on US cotton - potentially having a more outsized effect. Turkey accounts for over 10% of all US Cotton Export Does this have a major impact on US cotton prices? Possibly. At the very least, it's not a bullish development for US cotton prices. This is especially true considering that top US importer China is already shifting its cotton orders beyond US shores. And given the other challenges cotton prices face in the months ahead, it could be a scale tipper.